CBA 0.49% $84.05 commonwealth bank of australia.

cba & others down today

  1. 144 Posts.
    Over the past few weeks the banks have all rallied in breathless anticipation of a 0.5% rate cut by the Fed that will allow our Reserve Bank to cut by a similar margin and so continue to propell the housing boom.

    With the Fed only delivering 0.25% and our 3 & 10 year bond futures down hard I suspect that we will see all the banks knocked down today and consequently some significant trendline breaks. At best, we can now only hope for a local cut of 0.25% and I suspect that will be a major disappointment and so cause people to consider that maybe this rally in the banks has been overcooked.

    Any other views?


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